Wall Street brokerages expect Cisco Systems, Inc. (NASDAQ:CSCO) to announce sales of $12.14 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Cisco Systems’ earnings. The highest sales estimate is $12.17 billion and the lowest is $12.10 billion. Cisco Systems posted sales of $12.35 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 15th.

On average, analysts expect that Cisco Systems will report full-year sales of $12.14 billion for the current financial year, with estimates ranging from $47.52 billion to $49.00 billion. For the next fiscal year, analysts forecast that the business will report sales of $49.18 billion per share, with estimates ranging from $47.73 billion to $50.97 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Cisco Systems.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the firm posted $0.63 earnings per share. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year.

Several brokerages recently commented on CSCO. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a research note on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and issued a $38.00 price target on shares of Cisco Systems in a research note on Monday, September 11th. Drexel Hamilton reissued a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a research note on Sunday, June 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Thursday, August 17th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $35.57.

In other news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Southeast Asset Advisors Inc. lifted its stake in shares of Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after acquiring an additional 44 shares during the period. Opes Advisors Inc lifted its stake in shares of Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after acquiring an additional 44 shares during the period. Leisure Capital Management lifted its stake in shares of Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after acquiring an additional 48 shares during the period. Ronald Blue & Co. LLC lifted its stake in shares of Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after acquiring an additional 57 shares during the period. Finally, Banced Corp lifted its stake in shares of Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after acquiring an additional 59 shares during the period. 75.37% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems (NASDAQ CSCO) opened at 33.37 on Friday. The company has a 50-day moving average of $31.72 and a 200 day moving average of $32.41. The stock has a market cap of $165.25 billion, a price-to-earnings ratio of 17.56 and a beta of 1.19. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s payout ratio is presently 60.73%.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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